Company News

Infosys settles visa fraud allegations with U.S. authorities

Infosys settles visa fraud allegations with U.S. authorities

Indian information technology (IT) services provider has Infosys finally settled visa fraud allegations with the U. S. authorities by agreeing to pay $34 million.

The U. S. authorities had slapped Infosys with allegations of unlawfully using inexpensive B-1 visas to bring in employees from other countries like India. The authorities also alleged that used B-1 in lieu of legitimate H-1B in order to gain competitive advantage over rival firms and increase profits.

In addition, the firm was accused of breaching the U. S. law in failing to maintain correct I-9 records.

Hindustan Unilever Q2 earnings hampered due to weak

Hindustan Unilever Q2 earnings hampered due to weak

India's economy is confronting its most noticeably bad downturn since 1991. That has hit optional shopper using, leaving HUL's volume development stagnant at around 5 percent for as long as two quarters.

Deals development at Hindustan Unilever (HLL. NS) regulated for the sixth straight quarter between July and September and India's biggest purchaser products producer said powerless shopper request might press on to drag until well into one year from now.

Mahindra Aerospace preparing to enter India’s small aircraft market

Mahindra Aerospace preparing to enter India’s small aircraft market

The Mahindra Group has confirmed that its aircraft manufacturing division Mahindra Aerospace is preparing to launch small aircraft in India.

Mahindra Aerospace is manufacturing eight-seater utility aircraft (GA8) at its Melbourne, Australia-based facility. The company is also developing a 10-seater turboprop derivative, GA10, with a planned market entry in 2014.

Sebi directs company promoters to make additional disclosures

Sebi directs company promoters to make additional disclosures

In a bid to help public investors take more informed decisions, the Securities & Exchange Board of India (Sebi) on Monday asked promoters of all companies to make additional disclosures pertaining to pledging of shares.

The capital market regulator directed company promoters to mention their names, their shareholding in the `target' company as well as their pledged shareholding.

Corporate Affairs Ministry approves ‘Tata SIA Airlines Ltd’ name for proposed JV

Corporate Affairs Ministry approves ‘Tata SIA Airlines Ltd’ name for proposed JV

The government's Corporate Affairs Ministry has approved the name `Tata SIA Airlines Ltd' for the proposed aviation venture Tata Group and Singapore Airlines.

The Ministry has confirmed that the name has been approved, and Tata SIA Airlines Ltd stands registered from New Delhi.

The application for the registration of name was submitted late last month via the Corporate Affairs Ministry's electronic platform called MCA21.

Google shares hit record high of $1,015.46 apiece on strong quarterly earnings

Google shares hit record high of $1,015.46 apiece on strong quarterly earnings

Shares of the world's No. 1 Internet search firm Google Inc jumped to their record high of more than $1,000 apiece on Friday, a day after the company reported quarterly results.

Google shares gained more than 14 per cent to hit an all-time high of $1,015.46 apiece, boosting the company's market value by around $40 billion. On Thursday, the stock had gained around 8 per cent to $960 a share.

T-Mobile planning to scrap grandfathered data plans

T-Mobile planning to scrap grandfathered data plans

One of the Leading telecom service provider, T-Mobile has said that it is scrapping its old grandfathered data plans and moving customers to its current Simple Choice plans.

The company said that the move will allow a vast majority of customers to have improved and better service at a comparable price. The company also said that the users who are being transferred to the new plans will not face any loss. The company will move customers in November and the customers can expect their old plans to be automatically switched for a automatically selected new plan.

Airtel launches myPlan to expand its post-paid customer base

Airtel launches myPlan to expand its post-paid customer base

Bharti Airtel, India's leading mobile phone operator, on Friday announced a new plan that allows post-paid customers to customise their bill plans as per their needs.

The new plan, called myPlan, allows post-paid customers to select a plan from five available monthly rental plans that start from 199 and go up to Rs 999.

Govind Rajan, CMO of Consumer Business at Airtel, said that they launched myPlan because every customer has different needs and requirements.

Tata Motors launches CNG version of Nano

Tata Motors launches CNG version of Nano

Tata Motors on Tuesday introduced the world to the much-rumored CNG version of its smallest car called Nano.

The CNG version, the Nano CNG emax, has been priced at of Rs 2.45 lakh (ex-showroom Ahmedabad), and has been announced for all domestic CNG markets, including Delhi, Gujarat, Lucknow and Mumbai.

The Nano CNG emax, which was unveiled by Tata Motors' senior vice-president of passenger vehicle business unit Ankush Arora in Ahmedabad, is the first of the five brands in the CNG emax series that the auto giant wants to roll out.

Airbus bags $9.5bn-worth contract from Japan Airlines

Airbus bags $9.5bn-worth contract from Japan Airlines

Airbus has just announced that it has bagged an impressive order for 31 planes worth from Japan Airlines Co Ltd., a development that is definitely a tough blow to rival plane-maker Boeing.

The Japanese carrier has signed an agreement with Airbus for purchasing 18 long haul A350-900 and 13 A350-1000 planes. The purchase agreement also includes the option for the Japanese carrier to purchase another 25 planes.

The Airbus-Japan Airlines deal is enough to deepen the dent that Boeing suffered in its reputation after long delays and the grounding of its 787 Dreamliner.